Aeva Technologies, Inc. (NASDAQ:AEVA) Given Average Recommendation of “Hold” by Analysts

Shares of Aeva Technologies, Inc. (NASDAQ:AEVA) have been given a consensus rating of “Hold” by the five research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $28.75.

Several equities analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $42.00 target price on shares of Aeva Technologies in a report on Thursday, August 6th. Weiss Ratings cut shares of Aeva Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday. Canaccord Genuity Group upped their price target on shares of Aeva Technologies from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley increased their price target on shares of Aeva Technologies from $18.50 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Finally, The Goldman Sachs Group started coverage on shares of Aeva Technologies in a research note on Monday. They issued a “neutral” rating and a $20.00 price objective on the stock.

Aeva Technologies Stock Performance

Shares of NASDAQ:AEVA opened at $18.29 on Monday. Aeva Technologies has a 12-month low of $8.83 and a 12-month high of $31.30. The company’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $18.23. The firm has a market cap of $1.15 billion, a PE ratio of -6.70 and a beta of 2.47. The company has a quick ratio of 7.63, a current ratio of 7.85 and a debt-to-equity ratio of 3.52.

Insider Activity

In related news, CFO Saurabh Sinha sold 70,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $21.21, for a total transaction of $1,484,700.00. Following the completion of the sale, the chief financial officer directly owned 581,372 shares in the company, valued at $12,330,900.12. This represents a 10.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Mina Rezk sold 350,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $24.57, for a total value of $8,599,500.00. Following the transaction, the chief technology officer directly owned 1,706,669 shares of the company’s stock, valued at approximately $41,932,857.33. The trade was a 17.02% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,292,344 shares of company stock worth $30,568,186. Insiders own 36.70% of the company’s stock.

Institutional Investors Weigh In On Aeva Technologies

Hedge funds have recently made changes to their positions in the stock. Duquesne Family Office LLC bought a new stake in shares of Aeva Technologies during the 3rd quarter valued at approximately $26,670,000. Millennium Management LLC acquired a new position in Aeva Technologies during the 3rd quarter worth approximately $25,751,000. Handelsbanken Fonder AB lifted its stake in Aeva Technologies by 158.3% in the 4th quarter. Handelsbanken Fonder AB now owns 1,445,409 shares of the company’s stock valued at $19,202,000 after purchasing an additional 885,774 shares during the last quarter. California State Teachers Retirement System boosted its position in Aeva Technologies by 2,814.6% in the second quarter. California State Teachers Retirement System now owns 651,973 shares of the company’s stock valued at $18,725,000 after buying an additional 629,604 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Aeva Technologies by 1,223.8% in the second quarter. Invesco Ltd. now owns 614,411 shares of the company’s stock valued at $23,219,000 after buying an additional 567,998 shares in the last quarter. 62.92% of the stock is currently owned by institutional investors and hedge funds.

About Aeva Technologies

Aeva Technologies, Inc is a technology company specializing in the development and commercialization of advanced sensing and perception solutions based on frequency-modulated continuous wave (FMCW) LiDAR. Headquartered in Mountain View, California, Aeva’s core products include solid-state LiDAR sensors and perception software designed to provide high-resolution, long-range 4D data for automotive, industrial and robotic applications. The company’s FMCW approach enables simultaneous measurement of both object velocity and distance, distinguishing Aeva’s systems from traditional time-of-flight LiDAR solutions.

Founded in 2016 by Soroush Salehian and Mina Rezk, Aeva began as Aeon Imaging before adopting its current name in 2019.